Principles of Economics by @saife is very good. As you hang out in #Bitcoin many people will offhandedly mention Austrian Economics and how it applies to so much. I was frustrated because I didn’t see anyone explain it and I was intimidated to read Menger, Mises, Hayek, Rothbard, etc. Principles is a fantastic textbook on Austrian economics. Just another very well written easy to understand volume.
Gresham’s Law dictates that #Bitcoin will be the store of value and the U.S. Dollar will be the medium of exchange until Thiers’ Law replaces the USD with #BTC as MoE and unit of account.
https://m.primal.net/HgSj.jpg
The ETFs purchased 9,150 #Bitcoin beyond what the miners produced (assuming the miners sold all).
So at least 9,150 bitcoin were sold from existing holdings. There is much more existing bitcoin that can be sold than there is new Bitcoin coming. The halving still matters but probably for how it affects miner selling behavior.
Why normies hate #bitcoin:
1. The volatility (especially crashes)
2. It's digital, not physical.
3. Rug pulls
4. Limited regulation
5. Electricity usage
6. Some tradfi influencer hates it.
Am I missing anything? Trying to gather these "reasons" first before figuring out how to address them.
Was the panel with Leo from Hong Kong and Vancouver recorded and published? I would leave to hear from someone who has actually done the work of onboarding merchants.
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Notes by tetsuo | export